Upon sale or other disposition as contemplated herein, Buyer (or a subsequent registered holder of a Participation Certificate) shall surrender the Participation Certificate (to the extent in its possession) to Custodian upon the earliest to occur of (i) the sale or transfer of such Participation Certificate and (ii) the assignment and delivery to Buyer of the entire Pooled Loan Ownership Interest.
The Registrant is filing the Amendment for the purpose of registering four new series: ING Pooled Emerging Markets Corporate Debt Fund, ING Pooled Emerging Markets Hard Currency Sovereign Debt Fund, ING Pooled Emerging Markets Local Currency Debt Fund, and ING Pooled Loan Fund.
Seller acknowledges that it will cause each Pooled Loan transferred hereunder as evidenced by a Participation Certificate to be converted into an Agency Security relating to such Pooled Loan, such Agency Security to be backed by Pooled Loans.
In no event, however, shall Buyer deliver a Kickout Notice with respect to a Pooled Property if all such Lender Encumbered Properties subject to the Pooled Loan would exceed the Maximum Kickout Properties.
During 2006, the city participated in a shared loan arrangement through State of Indi- ana's State Revolving Fund Pooled Loan program.